Marketing mix
The marketing mix is a business tool used in marketing and by marketeers . The marketing mix is often crucial when determining a product or brand 's offer, and is often associated with the four P 's: price, product, promotion, and place.[1] In service marketing, however, the four Ps are expanded to the seven P 's [2] or eight P 's to address the different nature of services.
In the 1990 's, the concept of four C 's was introduced as a more customer-driven replacement of four P 's.[3] There are two theories based on four Cs: Lauterborn 's four Cs (consumer, cost, communication, convenience), and Shimizu 's four Cs (commodity, cost, communication, channel).
In 2012, a new four P 's theory was proposed with people, processes, programs, and performance.[4]
Contents [hide]
1 History
2 McCarthy 's four Ps
3 Lauterborn 's four Cs
4 Four Cs: in the 7Cs Compass Model
5 See also
6 References
History[edit]
In his paper "The Concept of the Marketing Mix", Neil Borden reconstructed the history of the term "marketing mix".[5][6] He started teaching the term after an associate, James Culliton, described the role of the marketing manager in 1948 as a "mixer of ingredients"; one who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried.[7]
McCarthy 's four Ps[edit]
The marketer E. Jerome McCarthy proposed a four Ps classification in 1960, which has since been used by marketers throughout the world.[3]
Category Definition
Product A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service.Tangible products are those that have an independent physical existence. Typical examples of mass-produced, tangible objects are the motor car and the disposable razor. A less obvious but ubiquitous mass-produced service is a computer operating
In the 1990 's, the concept of four C 's was introduced as a more customer-driven replacement of four P 's.[3] There are two theories based on four Cs: Lauterborn 's four Cs (consumer, cost, communication, convenience), and Shimizu 's four Cs (commodity, cost, communication, channel).
In 2012, a new four P 's theory was proposed with people, processes, programs, and performance.[4]
Contents [hide]
1 History
2 McCarthy 's four Ps
3 Lauterborn 's four Cs
4 Four Cs: in the 7Cs Compass Model
5 See also
6 References
History[edit]
In his paper "The Concept of the Marketing Mix", Neil Borden reconstructed the history of the term "marketing mix".[5][6] He started teaching the term after an associate, James Culliton, described the role of the marketing manager in 1948 as a "mixer of ingredients"; one who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried.[7]
McCarthy 's four Ps[edit]
The marketer E. Jerome McCarthy proposed a four Ps classification in 1960, which has since been used by marketers throughout the world.[3]
Category Definition
Product A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service.Tangible products are those that have an independent physical existence. Typical examples of mass-produced, tangible objects are the motor car and the disposable razor. A less obvious but ubiquitous mass-produced service is a computer operating
References: History[edit] In his paper "The Concept of the Marketing Mix", Neil Borden reconstructed the history of the term "marketing mix".[5][6] He started teaching the term after an associate, James Culliton, described the role of the marketing manager in 1948 as a "mixer of ingredients"; one who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried.[7] McCarthy 's four Ps[edit] The marketer E. Jerome McCarthy proposed a four Ps classification in 1960, which has since been used by marketers throughout the world.[3] Category Definition Product A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service.Tangible products are those that have an independent physical existence. Typical examples of mass-produced, tangible objects are the motor car and the disposable razor. A less obvious but ubiquitous mass-produced service is a computer operating system. Every product is subject to a life-cycle including a growth phase followed by a maturity phase and finally an eventual period of decline as sales falls. Marketers must do careful research on how long the life cycle of the product they are marketing is likely to be and focus their attention on different challenges that arise as the product move.